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| Skanska made good progress Construction giant Skanska AB, the Nordic region's biggest construction group, issued its year-end 2005 report. Revenue amounted to SEK 124.7 billion (121.3). Adjusted for discontinued operations, revenue rose by 7 percent. In construction, revenue rose by 5 percent adjusted for currency rate effects. Operating income in continuing operations rose to SEK 4, 798 M (3, 374). In construction, most units showed better operating margins. Operating income for the group amounted to SEK 5, 000 M (4, 361). Included in operating income in the comparative period was a capital gain of about SEK 1 billion from the divestment of Skanska Services. During the year, commercial properties with a value of SEK 4, 430 M (4, 645) were divested, with gains amounting to SEK 1, 626 M (1, 494). The divestments were made at, on average, 11 percent above the market values estimated by year-end 2004. The Board of Directors proposes a regular dividend of SEK 4.50 (4.00) per share and an extra dividend of SEK 2.00 per share for the 2005 financial year. Comments for Skanska’s President and CEO Stuart Graham: "In 2005 we made good progress on our outperform targets. The construction business stream improved to 2.5 percent despite the setbacks earlier in the year in our Californian unit Yeager. We still see great opportunity to increase earnings in construction through higher margins more than in revenue growth." write your comments about the article :: © 2006 Construction News :: home page |